Ritholtz Wealth Management Decreases Stock Position in Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC)

Ritholtz Wealth Management lowered its position in shares of Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) by 6.3% during the second quarter, HoldingsChannel reports. The firm owned 155,939 shares of the communications equipment provider’s stock after selling 10,404 shares during the period. Ritholtz Wealth Management’s holdings in Telefonaktiebolaget LM Ericsson (publ) were worth $962,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC grew its holdings in Telefonaktiebolaget LM Ericsson (publ) by 3.1% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 146,286,324 shares of the communications equipment provider’s stock valued at $921,604,000 after purchasing an additional 4,351,420 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 4,904.4% during the fourth quarter. Oppenheimer & Co. Inc. now owns 835,784 shares of the communications equipment provider’s stock valued at $5,265,000 after acquiring an additional 819,083 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,349.4% during the first quarter. BNP Paribas Financial Markets now owns 744,144 shares of the communications equipment provider’s stock worth $4,100,000 after acquiring an additional 692,804 shares during the last quarter. Gateway Investment Advisers LLC lifted its stake in shares of Telefonaktiebolaget LM Ericsson (publ) by 1,260.7% in the second quarter. Gateway Investment Advisers LLC now owns 630,541 shares of the communications equipment provider’s stock worth $3,890,000 after acquiring an additional 584,201 shares in the last quarter. Finally, Milestone Asset Management LLC purchased a new position in Telefonaktiebolaget LM Ericsson (publ) in the first quarter valued at about $1,446,000. 7.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. lifted their price objective on Telefonaktiebolaget LM Ericsson (publ) from $5.58 to $5.90 and gave the stock a “neutral” rating in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.90.

Telefonaktiebolaget LM Ericsson (publ) Stock Performance

Shares of Telefonaktiebolaget LM Ericsson (publ) stock opened at $7.33 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.90 and a current ratio of 1.14. Telefonaktiebolaget LM Ericsson has a 1 year low of $4.33 and a 1 year high of $7.48. The firm’s 50-day simple moving average is $6.76 and its 200-day simple moving average is $5.97. The firm has a market cap of $24.43 billion, a PE ratio of -7.40 and a beta of 0.84.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) last announced its quarterly earnings data on Friday, July 12th. The communications equipment provider reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.04). The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.29 billion. Telefonaktiebolaget LM Ericsson (publ) had a negative net margin of 14.13% and a positive return on equity of 11.39%. Equities analysts forecast that Telefonaktiebolaget LM Ericsson will post 0.41 earnings per share for the current fiscal year.

About Telefonaktiebolaget LM Ericsson (publ)

Telefonaktiebolaget LM Ericsson (publ), together with its subsidiaries, provides mobile connectivity solutions for telcom operators and enterprise customers in various sectors in North America, Europe, Latin America, the Middle East, Africa, North East Asia, South East Asia, Oceania, and India. It operates in four segments: Networks; Cloud Software and Services; Enterprise; and Other.